Oba Joseph Olugbenga Oloyede, the embattled traditional ruler of Ipetumodu in Osun State, Nigeria, has been ordered by a U.S. federal court to forfeit millions of dollars in assets to the American government after pleading guilty to charges connected to a $4.2 million COVID-19 relief fraud scheme.

The 62-year-old monarch, who also holds American citizenship, was indicted in April 2024 alongside fellow Nigerian-American Edward Oluwasanmi. The duo was accused of orchestrating an extensive scheme to defraud the U.S. Small Business Administration (SBA) of pandemic relief funds.

According to Peoples Gazette, the ruling was handed down on May 5, 2025, by Judge Christopher Boyko of the U.S. District Court for the Northern District of Ohio, who issued a Preliminary Order of Forfeiture authorising the seizure of high-value assets tied to the convicted king.

The order followed a plea bargain entered by Oloyede on April 24, 2025, in which he pleaded guilty to 13 counts, including wire fraud conspiracy, money laundering, and defrauding a federal relief programme. In exchange for a reduced sentence, Oloyede also waived his right to appeal or seek restitution.

Among the assets listed for forfeiture is a residential property in Medina County, Ohio, purchased in May 2021 under his wife’s name, Sherri Oloyede. Also included is $96,006.89 held in a JP Morgan Chase bank account under the name Joseph Oloyede and Associates Ltd. Though the property was registered in his wife’s name, the couple voluntarily waived their right to contest the forfeiture as part of the plea deal.

Oba Oloyede now faces sentencing, where he could receive significant jail time under federal sentencing guidelines. The case also casts a dark cloud over his future as a traditional ruler in Nigeria, with legal and cultural consequences expected to follow.

The Minister of the Federal Capital Territory, Nyesom Wike, has issued a warning statement addressing the Northern stakeholders regarding the People’s Democratic Party’s (PDP) presidential aspirations for the 2027 election, saying the party must not repeat the errors it made during the 2023 electoral cycle.

Wike explained the need for PDP to make a definitive decision regarding the upcoming presidential election, urging that there should be an explicit declaration that the candidate for the 2027 presidency must be selected from the southern region. He stressed that this stance is vital for fostering unity and ensuring equitable representation within the party.

He emphasised that such a move would avoid internal conflict and the backlash that the party faced in the previous election, The Cable reported.

Wike criticised the party’s reluctance to openly zone the ticket to the south, warning that the party’s attempts at ‘smartness’ would backfire.

“You can’t send the presidency to the north. I told them. Selfishness can kill a system,” he said, urging the PDP to learn from past mistakes. He argued that if the PDP were to fail to zone the ticket to the south, it would set a dangerous precedent, pointing out that the All Progressives Congress (APC) might send its own presidential ticket to the north in 2031.

Wike questioned the logic of the PDP then coming back to say it would follow suit and zone the presidency to the north as well.

Impact of zoning decision on Atiku Abubakar

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Wike’s comments have significant implications for former Vice-President Atiku Abubakar, who has made clear his intention to continue contesting for the presidency.

If the PDP opts to zone the ticket to the south, Abubakar, who is from the north, would be ineligible to run for the presidency under the party’s platform.

Abubakar, who was the PDP’s presidential candidate in the 2023 election, has previously stated that he would keep contesting for the Nigerian presidency as long as his health allows, Vanguard reported.

The PDP’s ongoing zoning crisis

The issue of zoning has been a point of contention within the PDP for several years. In the lead-up to the 2023 election, the party faced internal wrangling over the decision of whether to zone the presidential ticket to the south or the north.

While some party stakeholders, including five governors led by Wike, pushed for the southern zoning of the ticket, the PDP ultimately ditched zoning altogether, opening up the contest for all candidates.

This decision deeply divided the party, leading to widespread dissatisfaction and Wike’s refusal to back Abubakar during the 2023 election.

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Wike’s recent statements highlight the ongoing crisis within the PDP regarding zoning, and his call for the party to make a definitive decision on the 2027 ticket is likely to continue sparking debate among party members. As the 2027 election approaches, the issue of zoning remains a crucial factor in shaping the party’s direction.

Additional report from Legit.ng

Oil marketers and other petroleum industry experts have forecast a reduction in petrol prices in 2025 to as much as N500/litre.

The resumption of operations of the Port Harcourt and Warri refineries will drive this anticipated crash in price.

They highlighted that petrol, currently priced between N900 and N950 per litre at many filling stations, could drop to as low as N500 per litre during the year.

Oil marketers believe a steady supply of petroleum products would encourage competition, leading to further price reductions in the coming year.

According to industry experts, this anticipated decline is attributed to the strengthening of the downstream sector, driven by the federal government’s deregulation policy.

Other factors contributing to the expected price reduction include a stable foreign exchange rate, increased price competition, the Naira-for-crude initiative, and the expected operations of the Port Harcourt, Warri, and Dangote refineries.

IPO Stakeholders also noted that if these refineries supply the domestic market and accept payments in naira, it would further drive down petrol prices.

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Marketers share why fuel prices may reduce further

The national publicity secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Ukadike Chinedu, described the upcoming operations of the Port Harcourt and Warri refineries as transformative for the downstream sector.

In an interview with Saturday Sun, he emphasised that these refineries would foster healthy price competition, a trend already becoming evident.

He noted that both the Nigerian National Petroleum Company Ltd (NNPC) and Dangote have reduced petrol prices in recent weeks, highlighting the benefits of having multiple production sources rather than a monopoly.

Ukadike expressed optimism that this development could drive petrol prices below N500 per litre by 2025 as more players enhance refining capacity.

He also identified the federal government’s naira-for-crude policy as a critical factor in shaping petrol prices, predicting that it would curb inflation and ease pressure on foreign exchange.

The president of the Petroleum Products Retail Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, expressed agreement with Ukadike’s views. He assured that the operational launch of the Port Harcourt and Warri refineries would result in more affordable fuel options for Nigerians.

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Gillis-Harry emphasised that achieving lower petrol prices for consumers is a realistic prospect in 2025. Gillis-Harry said: ‘’As you can see, NNPC has reduced its ex-depot price from N1,045 per litre to N899 per litre for marketers, translating to N925 per litre at the pumps for the end users. This, I must say, is very commendable. These are not small drops, but massive drops from N1,045 to N899 ex- depot is a lot of drop.”

He highlighted that a steady supply of petroleum products would encourage competition, leading to further price reductions in the coming year.

On his part, the publicity secretary of the Crude Oil Refiners Association of Nigeria (CORAN), Iche Idoko, stated that Nigerians would soon start experiencing the benefits of a deregulated market.

Idoko said: “Price drop is one of the characteristics of deregulation we had highlighted. As the industry settles in to the regime of full deregulation, we are bound to see competitions amongst players, which ultimately will benefit the consumers.”

He explained that competition would emerge in pricing, product quality, and credit facilities offered to bulk purchasers. Marketers import 2.3bn litres of petrol In related news,

According to Legit.ng, oil marketers have continued to import petrol into the country despite earlier agreements to patronise local refineries.

Documents obtained from the Nigerian Ports Authority revealed that marketers have persisted in petrol importation. The data collected showed that imported petrol was docked at the Apapa Port, Tin Can Port and the Calabar Port.

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The Joint Admissions and Matriculation Board on Friday announced the release of the 2025 Unified Tertiary Matriculation Examination results, with results of 39,834 candidates being withheld.

The JAMB Registrar, Prof. Ishaq Oloyede, disclosed this on Friday during the official release of the 2025 UTME results at JAMB headquarters, Bwari.

Oloyede revealed that the seizure of results was due to suspected examination malpractices, and about 80 individuals are being probed for exam-related offences, with Anambra State having the highest number of suspects.

He said JAMB has 39,834 unreleased UTME results, with 1,426 under scrutiny and processing. Out of these, 96 candidates’ results were withheld due to exam malpractices, a decrease from 123 in the previous year.

Oloyede said 2,157 candidates experienced fingerprint rejections due to suspected registration infractions, and the figure is far above margin, and currently under investigation.

He added that a total of 1,957,000 candidates were verified for the exam, with 71,705 candidates absent.

Oloyede said,”The new trends observed this year were in the Registration and Examination processes, and they were mainly in the following categories; Identity Fraud, and Biometric Fraud of Combined Thumbprint of Candidate.

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“Other infractions were impersonator at the point of registration with the active involvement of few CBT Centres, double registration, and attempted substitution of self by candidates.”

He stated that 244 candidates were caught in “WhatsApp runs” and had their results withheld as a deterrent.

The registrar also cited that some CBT centers colluded with syndicates to register candidates with multiple fingerprints, affecting 3,656 candidates whose results were withheld due to “extraneous fingerprints” and every implicated centers will face sanctions.

He identified the centres as Tigh Technologies Limited, Sascon International School, Maitama, Abuja, and Wudil Computer Information Technology. Wudil, Kano State and Penta M &Amp; Centre 2, Tambuwal LGA, Sokoto, Sokoto State.

Oloyede added that 80 suspects were being interrogated by the police for their involvement in the examination malpractices, and most of them would be prosecuted.

The registrar reported 41,027 underage candidates registered, with 467 meeting high-performance criteria and one disqualified for malpractice.

He confirmed the board supported 501 candidates with disabilities through JAMB Equal Opportunity Group, but unfortunately, one of these candidates was involved in impersonation.

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Oloyede also said Four CBT centers were delisted and blacklisted due to technical deficiencies and substandard performance.

He listed the centres as: Adventure Associate, Behind Sheshe Supermarket, Kano, Saadatu Rimi College of Education, Zaria.

Others are Soronara Ventures Nigeria Limited, Foundation Road, Umudagu Mbieri, Mbaitoli, Imo State, and HSS Amazing, Holy Saviour School 30/32, Old Ota Road, Adeleye, Aparadija, Isunba, Lafenwa, Itele, Ogun State.

He therefore said that a list of those blacklisted for fraudulent practices would soon be made public with details of their nefarious activities.

Despite the controversy surrounding the 2025 JAMB results, Oloyede concluded that it was the one of the most successful in recent times

The JAMB boss reaffirmed the board’s zero-tolerance policy on exam malpractice and promised to continue innovating to maintain exam credibility.

He also explained how to check UTME results: candidates should text ‘UTMERESULT’ to 55019 or 66019 using the same phone number used for registration, with result printing available later.

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In recent weeks, various rumors and discussions have emerged regarding Nyesom Wike, the former governor of Rivers State and current Minister of the Federal Capital Territory (FCT). These speculations have captured the attention of political analysts and citizens alike, as they speculate on potential developments in his career.

Several posts on social media had alleged that at some point, Wike collapsed and was flown to France for treatment.

Several Nigerians are highly attentive and keeping a close eye on the health condition of the PDP chieftain who is currently serving within the APC government.

Despite the purported rumours within the political circle, the FCT Minister dismissed such allegations, describing them as the handiwork of individuals attempting to score cheap political points.

Wike addressed the speculation after inspecting four ongoing projects in the FCT, including the International Conference Centre (ICC), reaffirming his commitment to delivering on his mandate.

He said, “I don’t want to give credence to people who are only interested in carrying rumours. First of all, I’m a human being, it’s not a ghost that will collapse, it’s a human being that will collapse if there is any issue with their health. Unfortunately, I did not collapse. Wike said then”

The rumours, which spread widely on X, alleged that Wike collapsed at an event in Abuja and was rushed to an undisclosed hospital for treatment.

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These seem to be untrue due to Wike’s movement from one project inauguration to another within and outside the country.

According to health expert, Doctor Caleb Koleosho, disclosed that no sick person would be moving around the world like the way the FCT minister has been moving around.

To cast doubt, his latest trending photo of himself and his son in China speaks volumes about his health condition.

The former Rivers governor met with officials from the China Geoengineering Corporation Overseas Construction (CGCOC) Group to ensure the provision of water for satellite towns in the FCT

Following a successful meeting with the Chinese officials of the China Geoengineering Corporation, the FCT minister shared photos with one of his son, captioning it,“Today, I met with officials of the CP Group. The meeting is part of our official engagements in China, aimed at ensuring the provision of water and other infrastructures for Satellite Towns in the FCT.”

In the photographs below, Wike’s health has nothing to worry about, looking healthy and energetic.

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